The Coca-Cola Company has announced an agreement to sell its majority stake in Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC, marking a significant divestment in Nigeria’s juice and dairy industry. The transaction, which is subject to regulatory approval, signals Coca-Cola’s shift toward a leaner operating model focused on its core global beverage portfolio, according to a statement issued by the company on July 30.
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CHI Limited, known for its flagship brands Chivita and Hollandia, is one of Nigeria’s leading producers of fruit juices, value-added dairy products, and snacks. Coca-Cola had gradually acquired full ownership of CHI between 2016 and 2019. According to The Guardian Nigeria, the sale will see UAC integrate CHI into its existing food and beverage operations, expanding its presence in the competitive fast-moving consumer goods (FMCG) sector.
UAC of Nigeria PLC, a century-old conglomerate with a footprint in manufacturing, logistics, and real estate, is expected to leverage the acquisition to drive growth across its consumer portfolio. According to BusinessDay, UAC’s management views the deal as a strategic opportunity to build stronger category leadership in juices and dairy, backed by CHI’s nationwide distribution and brand recognition.
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Financial terms of the deal were not disclosed, but analysts note that CHI’s integration could significantly boost UAC’s earnings and scale in the non-alcoholic beverage market. Coca-Cola, while exiting ownership of CHI, maintains its long-term investment outlook in Nigeria. According to company officials cited by Nairametrics, Coca-Cola plans to continue investing in manufacturing, infrastructure, and partnerships across its Nigerian operations.
The agreement comes at a time when multinationals are reassessing local market positions amid inflation, foreign exchange pressure, and evolving regulatory conditions in Nigeria. For UAC, the acquisition affirms a bold bet on domestic consumer demand, while Coca-Cola’s exit from CHI signals a focused global consolidation around its core drinks portfolio.
